Report: Save-A-Lot Exploring Sale

Save-A-Lot, a discount grocer owned by private equity firm Onex Corp., is exploring a sale of all or part of itself, as it deals with increased competition and debt load, according to a recent Reuters report.

The company has hired investment bank P.J. Solomon to explore a potential deal, said the sources in the report. The move comes as German discounters Lidl and Aldi are putting pressure on Save-A-Lot by expanding across the country, and big box rivals such as Walmart cut prices.

Missouri-based Save-A-Lot has about 1,230 stores and is the second largest hard discount grocer in the U.S. after Aldi, according to credit ratings agency Moody’s Investors Service.

Onex bought Save-A-Lot from U.S. supermarket operator Supervalu in a $1.4 billion deal in 2016.

HomeWorld Highlights

This is the fifth installment of a special series, presented by the National Hardware Show, exploring key trends and developments driving the growth of housewares and home goods in the home improvement retail business.

Home grillers in recent years have expanded their menu beyond hamburgers, hot dogs and steak and are now comfortable grilling a variety of foods from fruits and vegetables to pizza.

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Executive Editor Greg Sleter highlights the May 13 issue of HomeWorld Business, which includes the annual Home Beverage Report and a look at the test that puts Kohl's and Aldi under one roof. Play video